Alpaka has partnered with LevelFT to bring on-demand pay and financial wellbeing tools straight into your team's Alpaka experience.

On-Demand Pay: The Payday Loan Antidote

On-Demand Pay / Earned Wage Access was created as the antidote to payday loans. Enabling people to access income that they have already earned is the low-cost alternative to short-term debt.

Most people have to spend money every day, and yet only get paid once a month, this can leave many vulnerable if an unexpected cost hits a few days before payday.

Despite being owed potentially thousands of pounds for the work they have done, an employee may have to turn to credit because they cannot access their income.

Level provides much needed financial flexibility for employees without the debt. This is because employees can only access a maximum 50% of what they have already earned. Their balance in Level accrues throughout the month from confirmed worked hours logged in Alpaka. This means:

• No consumer credit
• No interest
• A transparent and fixed ATM style fee to use the service.

What does this mean for you?

Closing the gap between work and pay incentivises people to work more for the same pay rate and the valued benefit is proven to make a difference:

• 62% fewer unfilled shifts
• 50% drop in staff turnover
• 13% less absenteeism

It can also be transformational for employees: 88% of users say they feel more financially confident.